Hi Lilac and KIWII just had another look at the last few...

Hi Lilac and KIWI

I just had another look at the last few announcements when I returned from town today. .... seems a Cleansing Statement/Prospectus usually comes after an Appendix 3b has been announced (placement of shares for the purpose of listing) and is just a required formality. I am guessing the issue of 100 shares for $1.00 is a formality of sorts (to comply with the secondary sale provisions of the Corporations Act) and these shares will be taken up by the brokerage house or bank who were issued 22 million shares (for 0.5) and options by Nkwe for listing on the Hong Kong exchange.

This is part of the 27th May announcement:

"Nkwe is also pleased to announce that it has completed a successful placement with select institutional investors (targeted for the proposed Hong Kong listing) for a
placement of securities from the Company to raise A$10m at an issue price of A$0.50 per share with a attaching unlisted option ($0.50, 30 June 2012) for every 2
ordinary fully paid shares subscribed for.
The funds raised will be used to fast track drilling program and BFS on the Tubtase Project, and for the current working capital of the Company. Max Capital Pty Limited and Helmsec Global Capital Limited acted as joint lead managers to the issue.

Please see attached Appendix 3B."

(Appendix 3B contains numbers of new shares and options issued).

cheers

Taurisk